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WHAT'S NEXT?: Russia is becoming an independent geopolitical actor. Russia will seek to maintain the world's strategic balance of power. A resurgent Russia is likely to continue to stir up trouble across much of Central and East Europe and the Middle East. It remains to be seen whether a rapprochement is possible with the U.S. And, Russia's economy is expected to return to modest growth in late 2016 and 2017, further strengthening its hand.

  • [New] Moscow typically refers to countries as unfriendly if they have imposed economic sanctions on Russia, meaning any firms in the European Union or United States are at risk. Reuters
  • [New] The Russian invasion of Ukraine has enhanced the need to move away from fossil fuels, adding energy security to the long list of risks associated with oil, gas and coal. OMFIF
  • [New] With global supply chain staples suddenly on shaky ground, energy and food shortages threatening numerous countries, international sanctions and further fallout as a result of Russia's war on Ukraine, much has changed in the world - economically and otherwise - over the past few months. The Jerusalem Post
  • [New] New Magnitsky sanctions could be a perfect regional test case following in step with Western sanctions on Russia's invasion of Ukraine, as the previous government did in March sanctioning Moscow under Magnitsky sanctions passed late last year. Asia Times
  • [New] The other big problem is the surge in oil prices fueled by Russia's war, which will force airlines to raise airfares - and potentially dampen travel demand. AP News
  • [New] Member States gathered today for a clear reason: The Russian Federation's invasion of Ukraine is threatening global food security. Department of Economic and Social Affairs
  • [New] Coercion on the rest of world to prevent legal trade with the Russian Federation is illegal and creates risks of food security for hundreds of millions of people. Department of Economic and Social Affairs
  • [New] The Russian Federation's invasion of its neighbour has effectively ended Ukraine's food exports, with price increases of up to 30% for staple foods threatening people in countries across Africa and the Middle East. Department of Economic and Social Affairs
  • [New] Wind power industry association BWE said its member companies are experiencing a new quality of cyber threats since Russia launched its invasion of Ukraine. Clean Energy Wire
  • [New] Companies such as BP and Shell have benefited from rising global oil and natural gas prices, which shot even higher in recent months as Russia's invasion of Ukraine sparked fears of a global supply crunch. CNN
  • [New] Unfortunately now with the food crisis that has developed, we have very strong pressure particularly from farmers unions who say we need to boost production to compensate for the disruption to supplies of wheat, vegetable oil and maize from Ukraine and Russia. The Guardian
  • [New] Some parallels have been drawn between Russia's invasion of Ukraine and the threat that Taiwan faces from China, its much larger, nuclear-armed neighbor. The Washington Post
  • [New] The United States and other countries have banned imports of Russian crude and oil products over its invasion of Ukraine, and others have avoided acquiring cargoes out of fear of future sanctions. Reuters
  • [New] Grain prices surged in Q1 on threats of supply disruptions from both Ukraine and Russia. Seeking Alpha
  • [New] Risks associated with palladium supply from Russia are adding to the uncertainty for consumers and contributing to the rising price volatility. Kitco News
  • [New] While the UK would not be directly impacted by supply disruption as it imports less than 5% of its gas from Russia, it would be affected by prices rising on global markets as demand in Europe increased. BBC News
  • [New] As governments negotiate energy trades with partners - other than Russia - oil prices are expected to continue receding in the second quarter, which is likely to slow energy inflation. S&P Global Platts
  • [New] Russia's invasion of Ukraine could cause a global food crisis that may last for years. All About Feed
  • [New] If the pressure groups were to get their way, the UK would become ever more dependent on other countries for its oil and gas - countries that could include Russia. Offshore Energies UK (OEUK)
  • [New] Just 15% of the total energy consumption is natural gas, of which around half comes from Russia, making Switzerland less vulnerable to the geopolitical disruptions around the war in Ukraine. Lombard Odier
  • [New] While U.S. allies did not expect Washington to use military force to repel Russia's invasion of Ukraine, they assume the United States would defend Taiwan. Council on Foreign Relations
  • [New] Energy prices in the EU will remain high and even rise further in the coming months thanks to Western sanctions on Russia that are reducing the availability of Russian energy for Europe. IER
  • [New] Earlier this month, the European Commission said it plans to end its dependency on Russian fossil fuels and produce 10 million tonnes of green hydrogen by the end of the decade. Carbon Herald

Last updated: 28 May 2022